MONETT, Mo., Jan. 5, 2012 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking™ division announced today that Brookline Bank has selected its SilverLake core processing system to provide enterprise-wide automation. This Massachusetts-based bank holding company will implement SilverLake and more than 13 of Jack Henry Banking's integrated complementary solutions, including the jhaPassPort™ ATM and debit card transaction processing platform and iPay Consumer Online Bill Pay™, through the company's outsourced offering.
According to James Cosman, chief operations officer of Brookline Bank, "We recently acquired Ipswich National Bank and Bank RI which brings us to more than $4.8 billion in assets. We are now operating a three-bank holding company with three core platforms and dozens of third-party products. After thoroughly evaluating the functionality of our current systems, we were convinced that we need a common platform to support our current and planned technology requirements, provide leading-edge commercial functionality, and seamlessly support our long-term growth plans. We also want all the benefits of full integration, state-of-the-art CRM and Internet banking solutions, consolidated customer information across our three-bank enterprise, and an intuitive user experience. We retained a consulting firm and conducted an extensive evaluation that identified SilverLake as the best solution for our banks, our business strategies, and our customers. We believe that consolidating our operations with a robust core platform and the integrated complementary solutions Jack Henry Banking provides is a strategic component of our ongoing progress and performance."
Stan Viner, general manager of sales for Jack Henry Banking™, said, "We believe Jack Henry Banking is uniquely positioned to support the long-term technology requirements of mid-tier banks. In fact, we believe a move to SilverLake can be a mid-tier bank's last conversion. Our ongoing success winning mid-tier clients can be attributed to several core competencies. SilverLake provides highly customizable, commercial-focused core functionality that banks can augment with more than 100 fully integrated complementary solutions. We provide proven conversions and implementations. And we have a company-wide commitment to provide service levels that exceed our clients' expectations. We welcome the opportunity to add Brookline Bank to our roster of mid-tier clients, which includes more than 20 percent of the banks with assets ranging from $1 to $20 billion. We look forward to providing the business tools this progressive bank needs to continually enhance its customer service and competitive position, and to improve its operating efficiencies and performance."In addition to SilverLake, Brookline Bank will initially implement an array of Jack Henry Banking's complementary solutions including StreamLine Platform Automation® – Deposits™; StreamLine Platform Automation® – Loans; Vertex Teller Automation System™; Vertex Teller Capture™; components of the jhaPassPort™ ATM and debit card transaction processing platform; NetTeller Online Banking™; iPay Consumer Online Bill Pay™; goDough® mobile banking; Cognos 8 BI™ business intelligence and enterprise reporting; Synapsys® sales, marketing, and customer service solution; Yellow Hammer Fraud Detective™; Yellow Hammer BSA™; and components of the Synergy™ Enterprise Content Management (ECM) solution. About Brookline Bank Brookline Bank is a subsidiary of Brookline Bancorp, Inc. (Nasdaq: BRKL), and is headquartered in Brookline, Massachusetts. A full-service financial institution, Brookline Bank provides individuals and businesses with deposit and lending services, residential mortgages and home equity lending, commercial and CRE lending, cash management, merchant services, and access to investment services. Brookline Bank operates 20 branches in Greater Boston. For more information go to www.brooklinebank.com